Press Association Sport understands the final touches have been put to the deal that will extend Ferdinand's time at Old Trafford into a 12th season.
"I am delighted to have signed for another year and I am looking forward to working with the new manager," said Ferdinand.
It has been obvious Ferdinand wanted to remain at United for a while now.
The 34-year-old last week called time on his international career in order to concentrate on club matters and has spoken openly about David Moyes' impending arrival as Sir Alex Ferguson's replacement.
Nevertheless, the commitment of someone who has just won his sixth Premier League title is a further seal of approval for Moyes, who is facing a tough baptism at United given he has never won any major silverware despite his impressive reputation.
It also represents good news for Ed Woodward, who will replace David Gill as chief executive in the summer.
Woodward has been responsible for negotiating with Ferdinand's team as he also gets used to the demands of his new role.
Ferdinand has been on a friend's stag celebrations in Marbella this week.
However, he will be present for the start of pre-season training ahead of this summer's tour to Australia and the Far East.
Source: PA
Source: PA